Handguns can be carried in a concealed manner in a wide variety of ways, from simply concealing or holding in clothes pockets or compartments to the use of carrying device or holster which is partially or completely covered by clothing. A wide variety of holsters for handguns have been created, including relatively compact or low profile designs which conform tightly to the barrel and trigger guard of a handgun such as bolt action type handguns. Typical configurations include a cover piece which is shaped to closely conform to the side profile of the barrel and trigger guard, and which is permanently attached to a back piece which is against or in close proximity to the body. With these types of holsters, because the orientation of the receiver is fixed with respect to the back piece, the entire holster must be moved or positionally adjusted in order to have the gun grip at a preferred orientation angle for the wearer.